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AR/VR and smart glasses market set for explosive growth

Mohammed Fahad
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AR/VR and smart glasses market set for explosive growth
  • Meta captures 60.6% share of the global AR/VR and smart glasses market in second quarter of this year.
  • IDC believes new demographics will push the sector far beyond its gamer roots, with consumers embracing use cases from entertainment to productivity to richly personalised notifications.

If there’s a tech wave set to make a splash in 2025, it’s surely the world of AR/VR headsets and smart glasses.

Projections from the International Data Corporation (IDC) forecast that global shipments for these combined devices—including display-free smart glasses—are poised for a robust 39.2 per cent leap next year. That’s 14.3 million new units set to land in consumers’ hands, faces, and occasionally, pockets.

Meta’s big lead

In the hardware race, Meta is completely running the show. During the second quarter of 2025, the company captured an eye-popping 60.6 per cent share of the global AR/VR and smart glasses market.

This isn’t just about clunky VR goggles: Meta’s success in lighter, display-less Ray-Ban smart glasses shows that there’s appetite for more subtle, wearable access to AI. Their continued investments in Mixed Reality are seen as laying the groundwork for what could become the first wave of truly mainstream Augmented Reality eyewear.

Trailing behind is Xiaomi, eking out a 7.7 per cent share thanks to its AI Glasses and Mija Smart Glasses, although its reach is mostly confined to China. Other players—XREAL (4.1 per cent), RayNeo (2.7 per cent), and Huawei (2.6 per cent)—fill out the global top five. As more brands dive in, expect the competition and innovation to heat up.

Smart glasses lead the charge

The real rocket fuel for this category in 2025 appears to be smart glasses, spearheaded by Meta’s Ray-Bans. Predictions call for a mind-blowing 247.5 per cent year-on-year surge in this segment alone, as new launches from tech heavyweights and up-and-comers put AI front and centre in our daily lives.

IDC points to an emerging shift: where once an AI assistant living in your glasses was the stuff of science fiction, it’s rapidly becoming everyday tech. The arrival of display-equipped AI glasses from Meta, Google, and others promises to expand use cases further—and distribution channels like eyewear retailers and electronics stores are gearing up to meet the expected demand.

Who’s wearing, and why?

Historically, gaming dominated AR/VR headset use, and titles like Animal Company, Beat Saber, and Gorilla Tag continue to rake in revenue. But the landscape is evolving. While games remain hot sellers, YouTube now leads in hours watched, and AI-driven productivity and lifestyle apps are steadily gaining traction.

As these devices grow more accessible and varied, IDC believes new demographics will push the sector far beyond its gamer roots, with consumers embracing use cases from entertainment to productivity to richly personalised notifications.

It’s not just hardware where the action is. IDC sees software, apps, and service spending for AR/VR jumping by nearly 20 per cent to reach almost $12 billion in 2025. As creators and developers experiment with new experiences—from immersive creativity tools to AI-powered personal assistants—the business case for the category keeps strengthening.

Looking ahead, IDC envisions nothing but growth. By 2029, annual shipments could hit 43.1 million units, riding a compound annual growth rate of 31.8 per cent.

Display-less smart glasses will likely remain the point of entry for many, thanks to their blend of affordability and convenience, though Mixed Reality headsets and smart specs with screens are hot on their heels.

In short: whether for play, productivity, or just staying in the loop, expect to see a lot more wearable tech on faces everywhere over the next five years.

China clamps down on Nvidia chip sales to fuel homegrown AI industry

Ana Mary Joseph
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China clamps down on Nvidia chip sales to fuel homegrown AI industry
  • Chinese regulators acknowledge that their own AI chips now match or even outperform Nvidia’s export-restricted offerings.


China’s main internet regulator has just delivered a major shock to the world of artificial intelligence: the country’s biggest tech players, including ByteDance and Alibaba, have been ordered to stop buying and testing Nvidia’s AI chips.

Specifically targeted is the RTX Pro 6000D, a chip specially designed for China, which had been generating considerable buzz among local companies eager for advanced AI power.

A swift and decisive policy shift

The Cyberspace Administration of China (CAC) has reportedly told tech giants this week to put an immediate halt to verification and purchase of the RTX Pro 6000D. The move comes just as several companies were ramping up their orders, some looking to buy tens of thousands of units. But, as soon as the directive landed, suppliers were told to cease all related efforts.

Reaching further than earlier guidance—previously focused on Nvidia’s H20 chip—this outright ban marks an escalation. The context? Chinese regulators have concluded that their own AI chips now match or even outperform Nvidia’s export-restricted offerings. It’s a bold statement: China is telling its homegrown tech industry it’s time to break free of reliance on foreign AI hardware.

Wednesday’s news didn’t go unnoticed by the markets. Nvidia’s shares fell about three per cent after word spread about China’s clampdown. Jensen Huang, Nvidia’s CEO, was in London at the time and publicly acknowledged the setback, expressing disappointment but also a willingness to respect each government’s decision.

“We can only be in service of a market if the country wants us to be,” he reflected, recognising the broader US-China tensions at play.

Beijing’s big bet on domestic tech

It’s clear Beijing is making an all-in bet on developing its own semiconductor industry—especially in the realm of AI, where the stakes are enormous in the ongoing US-China tech rivalry.

The regulator’s decision is seen as a loud signal to Chinese tech companies: domestic innovation is now the top priority, with no more waiting for a possible relaxation of US restrictions on Nvidia.

Insiders say that where there once was hope for renewed Nvidia supply—should geopolitics improve—the mood has shifted to urgent, coordinated action to build and scale up China’s own AI ecosystem with native chips.

Chinese alternatives

The ban didn’t come out of thin air. After the US administration barred Nvidia from selling its most powerful products to China, the company scrambled to develop chips—like the now-banned Pro 6000D and H20—tailored for the Chinese market.

But even as Nvidia hustled, Chinese regulators and chipmakers, including Huawei and Cambricon, have been racing to catch up. In fact, Beijing recently convened domestic manufacturers to directly compare their chips’ performance against Nvidia’s export-compliant models.

The results, according to sources familiar with these meetings, suggest that Chinese AI processors have achieved, and in some cases exceeded, the capabilities of Nvidia’s restricted chips. This achievement underpins the government’s new hard line against further Nvidia sales in China. Industry voices point out that, with domestic output set to triple next year, China now believes it can satisfy demand internally.

The RTX Pro 6000D was launched with fanfare just this July during a visit from Nvidia’s CEO. It represented the last major Nvidia product allowed into the country after tightening US restrictions.

As of now, with the new ban enforced and domestic supply ambitions running high, Chinese tech companies are being pushed into a new era—one in which they build, test, and deploy homegrown AI chips at scale, and the world watches closely to see if China’s bet will pay off.

Moody’s flags risks in Oracle’s massive AI contracts

Naushad K. Cherrayil
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Moody’s flags risks in Oracle’s massive AI contracts
  • Moody’s projects Oracle’s leverage ratio could hit 4x before earnings catch up, creating an extended period of high financial pressure.
  • Agency believes free cash flow is likely to stay negative for quite a while, with breakeven only on the distant horizon as Oracle invests heavily to meet its obligations under these monster contracts.

It’s not every day that a single deal can reshape the financial outlook of a tech titan, but that’s exactly what’s happening at Oracle.

The company has recently set the business world abuzz with $300 billion in new artificial intelligence contract signings—most notably an enormous cloud agreement reportedly inked with OpenAI.

These contracts hint at transformative potential for Oracle’s Oracle Cloud Infrastructure, with the firm projecting booked revenue for the unit could exceed a staggering half a trillion dollars.

But while the headlines showcase ambition and scale, Moody’s Ratings is raising a cautious eyebrow. In a fresh note this week, the influential US credit rating agency acknowledged the “.tremendous potential” of Oracle’s new AI infrastructure contracts.

However, Moody’s also flagged multiple financial risks that could temper Wall Street’s excitement.

Counterparty risk—A single point of failure?

The first red flag concerns counterparty risk. By securing such an oversized commitment from just a handful of AI powerhouses, Oracle has placed a big bet on the fortunes and follow-through of a very limited group of customers.

Moody’s was especially wary of what could happen should one of these giants pull back or default. The agency likened Oracle’s ongoing global data centre construction spree to one of the world’s largest project financings—meaning there’s an awful lot riding on a few key partnerships.

As if that weren’t enough, Moody’s analysts warned about Oracle’s financial profile as the company leans into this expansion. The massive infrastructure build-out will mean debt piling up faster than the company’s earnings (EBITDA).

Moody’s projects Oracle’s leverage ratio could hit 4x before earnings catch up, creating an extended period of high financial pressure.

And there’s another caution: don’t expect a cash bonanza anytime soon. The agency believes free cash flow is likely to stay negative for quite a while, with breakeven only on the distant horizon as Oracle invests heavily to meet its obligations under these monster contracts.

What’s Oracle’s grade?

Moody’s didn’t take immediate action on Oracle’s current credit rating, holding it at Baa2—still investment grade, but just above junk status. This leaves Oracle in a somewhat precarious position: poised for AI-driven growth at a massive scale, but carrying financial risks that could quickly snowball if conditions shift.

In the end, Oracle’s AI cloud play is a high-stakes wager. Success could cement it as a foundational part of the global AI infrastructure. Missteps, on the other hand, could rattle not just Oracle’s balance sheet but the entire industry’s confidence in bold, concentrated bets on artificial intelligence.

Meta leaps into the next generation of smart glasses

Mohammed Fahad
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Meta leaps into the next generation of smart glasses
  • Available September 30 and starting at $799, the glasses bring a significant price bump but also a clear leap in capability.
  • Also introduced Oakley-branded Vanguard glasses targeting athletes. Priced at $499 and launching on October 21.

Meta Platforms has just made a bold move in wearable technology, taking the wraps off its first consumer smart glasses equipped with a built-in display. These new glasses, dubbed the Meta Ray-Ban Display, mark an evolution from the brand’s previous collaborations and signal Meta’s intention to maintain momentum as a contender in the age of artificial intelligence.

CEO Mark Zuckerberg took centre stage at Meta’s annual Connect conference in Menlo Park, using real-time demos to showcase the device’s capabilities. The demonstration wasn’t entirely smooth—a failed call left Zuckerberg joking with the audience—but the mood stayed upbeat. These moments served to humanise the launch and illustrate what’s at stake when pioneering cutting-edge tech.

Supercharging intelligence and presence

Zuckerberg painted an ambitious vision: smart glasses as the doorway to what he calls “personal superintelligence.” According to him, the glasses are an ideal platform—they free up your hands and senses, allowing you to stay present while an embedded AI assistant helps you remember more, communicate smarter, and heighten your awareness and productivity, all in real time.

The new Ray-Ban Display glasses pack a discreet digital screen into the right lens, primarily for quick-bite tasks like displaying notifications. They promise:

  • Resolution: 600 × 600 pixels
  • Field of view: 20 degrees (42 pixels per degree)
  • Refresh rate: 90Hz (with content refreshing at 30Hz)
  • Brightness range: From 30 up to 5,000 nits
  • UV detection to automatically adjust brightness

Meta highlights the privacy of this miniature display, noting that less than two per cent of light leaks out—so nobody nearby can easily see what you’re viewing.

Available September 30 and starting at $799, the glasses bring a significant price bump but also a clear leap in capability.

A trio of wearable innovations

Meta didn’t stop at one reveal. It also introduced Oakley-branded Vanguard glasses targeting athletes. Priced at $499 and launching on October 21, Vanguard offers:

  • Integration with major fitness tracking platforms (Garmin, Strava)
  • Real-time performance feedback and post-workout summaries
  • Up to nine hours of battery life

Additionally, the classic Ray-Ban line sees notable upgrades—a near doubling of battery life and improved camera performance, though with a new $379 price tag.

All wearables in this launch lineup support Meta’s AI assistant, hands-free commands, integrated cameras, and direct livestreaming to Facebook and Instagram.

Context and competition

Meta’s smart glasses have become something of a standout in the burgeoning field of wearable AI, but the company faces stiff competition from industry heavyweights like OpenAI and Google. To keep pace, Zuckerberg has spearheaded a “talent arms race” in Silicon Valley and committed enormous resources toward specialised AI chips.

Not everything is rosy, however. As the company pushes further into hardware and artificial intelligence, it continues to face scrutiny over broader issues—especially content moderation and child safety across its vast social media footprint.

This isn’t Meta’s final form in smart eyewear. Industry analysts see the Ray-Ban Display as a stepping stone, pointing toward the grander vision of “Orion”—Meta’s ambitious project slated for 2027.

Orion, teased as a prototype last year and billed by Zuckerberg as “the time machine to the future,” represents Meta’s bet on an all-in-one AR device.

Market watchers expect the overall market for AR, VR, and display-less smart glasses to skyrocket by nearly 40 per cent in 2025, with Meta driving much of this surge. Enthusiasm for the Ray-Bans produced in partnership with EssilorLuxottica is expected to play a significant role.

For now, Meta’s unveiling is both a statement of intent and a glimpse into a future where AI quietly, and stylishly, augments everyday life—one lens at a time.

Pakistan’s digital economy under siege by cybercrime

Ana Mary Joseph
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Pakistan’s digital economy under siege by cybercrime
  • Federal Investigation Agency inundated with over 722,000 cybercrime complaints between 2020 and 2024.

Pakistan’s digital transformation, once a sign of progress and modernity is now fraught with peril as cyber scams, data breaches, and elaborate online financial frauds surge across the nation.

As digital platforms proliferate, con artists have found lucrative new hunting grounds, exploiting vulnerabilities in everything from online banking to social media investment scams.

Scope of the digital threat

The true magnitude of this crisis is difficult to overstate. In just four years—from 2020 to 2024—the Federal Investigation Agency (FIA) was inundated with over 722,000 cybercrime complaints.

Despite this flood of reports, action has been feeble: less than 10 per cent of cases saw formal investigation, and convictions are depressingly rare, totaling only 152 during the period. In 2024 alone, a reported 13,000 instances of online financial fraud led to more than a thousand arrests—but shockingly, only 17 cases ended in a court verdict.

These statistics point to a web of inefficiency and a justice apparatus that is, at best, limping behind the pace of technological crime.

The strain on the financial sector

The financial industry remains particularly exposed. The State Bank of Pakistan’s response in early 2024 saw record penalties—over PKR 776 million imposed on eight major banks—for failing in key regulatory areas like anti-money laundering and due diligence.

Moreover, the Banking Mohtasib’s office resolved nearly 28,000 digital fraud cases within the year, restoring PKR 1.65 billion to aggrieved customers, but these efforts are still dwarfed by the sheer volume of unresolved losses. Public confidence, understandably, continues to erode.

Digital fraud in Pakistan is no longer the domain of small-time crooks—it’s evolved into highly organised, well-resourced rackets. A recent, dramatic case in July 2025 saw the National Cybercrime Investigation Agency (NCCIA) bust a colossal Ponzi scheme run from a Faisalabad call centre, arresting 149 suspects, some of whom were foreign nationals.

Simultaneously, the Securities and Exchange Commission of Pakistan (SECP) is playing whack-a-mole with illegal digital lending apps—flagging 141 such services exploiting users through mainstream platforms like Facebook and WhatsApp. Many simply resurface under new names after enforcement.

Systemic weaknesses exposed

According to the Pakistan Cybersecurity Council, the corporate sector is alarmingly unprepared: more than 60 per cent of companies lack even fundamental safeguards such as encryption or multi-factor authentication. International observers are growing increasingly concerned, and for good reason.

Despite new laws like the Prevention of Electronic Crimes Act (2016), the National Cybersecurity Policy (2021), and fresh regulatory bodies in 2025, Pakistan’s cyber defense remains splintered. Jurisdictional disputes between the FIA and NCCIA, in particular, have paralysed coordinated action.

The nation’s enforcement capacity is critically overstretched. Only 350 cybercrime investigators are tasked with more than 160,000 cases—meaning each officer must grapple with an unmanageable load of around 6,000 complaints per year.

On a provincial level, resources are almost comically meager: sometimes just two digital tracking devices and a handful of forensic vans for entire regions. Meanwhile, the judiciary is struggling to keep up—lacking technological know-how, specialised courts, or even clear standards for digital evidence interpretation.

Infrastructure: The weakest link?

Pakistan Telecommunications Authority’s most recent Cybersecurity Report recorded a 17 per cent increase in attacks on vital networks, a trend underscored by a global 173 per cent spike in phishing—amply reflected in domestic statistics.

Although the CTDISR-2025 initiative brought in new protective measures, actual compliance is patchy and limited mostly to the country’s biggest telecom players. Sector-based computer emergency response teams (CERTs) for critical industries remain nascent, and overall incident response continues to be hamstrung by lack of resources and strategic focus.

US and China reach framework for US-controlled TikTok ownership

Mohammed Fahad
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US and China reach framework for US-controlled TikTok ownership

  • ByteDance, the app’s Chinese parent, has yet to disclose whether it will license or fully transfer key intellectual property like recommendation algorithms to a US purchaser.

The ongoing rivalry between the United States and China took a significant turn this week, as officials announced a breakthrough framework to transfer TikTok’s US operations to American control.

While months of negotiation had previously produced little progress, both sides now signal cautious optimism that a final deal is within reach, pending a scheduled Friday call between President Donald Trump and President Xi Jinping.

The stakes are high. With 170 million US users, TikTok represents both a cultural powerhouse and a potential national security flashpoint. The new agreement, described by negotiators as a framework, comes just ahead of a looming September 17th deadline that could have resulted in TikTok being banned from American app stores.

US Treasury Secretary Scott Bessent said the talks in Madrid were productive, noting that the deadline itself drove both parties to make critical concessions. There’s even a possibility of extending the deadline by up to 90 days to iron out remaining issues.

Details remain closely guarded, but American officials emphasise that US national security is at the agreement’s core, while Chinese negotiators have focused on preserving cultural “characteristics” of the app—features they consider an asset of soft power.

“They care about the Chinese identity within the app. For us, it’s a matter of national security,” Bessent clarified.

Demand strict separation of user data

President Trump, who owes part of his own political communication success to TikTok’s broad reach—his official channel boasts 15 million followers—has signaled that any Chinese stake in the restructured entity is still under review.

While lawmakers in Congress, especially after passing a 2024 divestiture law, demand strict separation of user data and algorithms from Chinese control, the administration remains wary of triggering backlash among TikTok’s American fans and social media influencers.

The path to a final agreement is complicated. The Republican-controlled Congress will need to review and likely approve the arrangement. ByteDance, the app’s Chinese parent, has yet to disclose whether it will license or fully transfer key intellectual property like recommendation algorithms to a US purchaser.

Chinese officials, for their part, describe the process as an exercise in “basic framework consensus,” and maintain that concessions must be mutual, rather than unilaterally imposed on Chinese firms.

This budding agreement is taking shape against a backdrop of broader US-China tensions. The two largest economies have clashed over everything from chip exports and rare earth supplies to the regulation of technology giants like Nvidia.

The most recent meeting at Madrid’s ornate Palacio de Santa Cruz marked the fourth high-level negotiation in as many months, a testament to the rocky diplomatic terrain.

Own foreign policy goals

Even as both countries wrangle over TikTok and tariffs, each side is weighing how far it’s willing to go to protect domestic tech champions and pursue their own foreign policy goals.

The Biden administration (and previously the Trump administration) has blocked Chinese products cited as security risks, while Beijing counters with its own investigations and regulatory crackdowns, as seen in its fresh probe of Nvidia for alleged antitrust violations—a move widely viewed as retaliation.

As Friday’s call between Trump and Xi approaches, top US and Chinese officials continue to debate, compromise, and jockey for advantage, fully aware that TikTok’s fate is tied to the larger contest for global tech supremacy.

With the threat of a ban hanging over millions of American users, the outcome could shape digital policy, international trade, and the fortunes of Silicon Valley and Shenzhen alike.

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